Speedy Sales: The Quick Turnaround of Housing Transactions

If you've been considering selling your house, there's some encouraging news. While the housing market isn't as hyperactive as it was during the peak years when homes were flying off the shelves, they're still moving quicker than usual.

The graph below, utilizing data from Realtor.com, illustrates the median days on the market for each January starting from 2017 up to the most recent data available. According to Realtor.com, "days on the market" refers to the duration from when a house is listed for sale until its closing date or the date it's removed from the market. This metric offers valuable insights into the pace at which homes are selling compared to more typical years:

When you look at the most recent data (shown in green), it's clear homes are selling faster than they usually would (shown in blue). In fact, the only years when houses sold even faster than they are right now were the abnormal ‘unicorn’ years (shown in pink). According to Realtor.com:

“Homes spent 69 days on the market, which is three days shorter than last year and more than two weeks shorter than before the COVID-19 pandemic.”

What Does This Mean for You?

Homes are selling faster than the norm for this time of year – and your house may sell quickly too. That’s because more people are looking to buy now that mortgage rates have come down, but there still aren’t enough homes to go around. Mike Simonsen, Founder of Altos Researchsays:

“. . . 2024 is starting stronger than last year. And demand is increasing each week.”

Bottom Line

If you’re wondering if it’s a good time to sell your home, the most recent data suggests it is. The housing market appears to be stronger than it usually is at this time of year. To get the latest updates on what’s happening in our local market, let’s connect.

70 Properties
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$542,731
Neighborhood: Sunstone At Wellen Park
3
Beds
2
Baths
1,787
Sq.Ft.
2024
Year Built
8
Days on Site
T3505214
MLS
$442,681
Neighborhood: Renaissance At Wellen Park
2
Beds
2
Baths
1,507
Sq.Ft.
2024
Year Built
9
Days on Site
T3504869
MLS
$447,817
Neighborhood: Sunstone At Wellen Park
2
Beds
2
Baths
1,501
Sq.Ft.
2024
Year Built
9
Days on Site
T3505037
MLS
$576,990
Neighborhood: Wysteria Wellen Park Village F-4 Replat
3
Beds
2
Baths
1,860
Sq.Ft.
2024
Year Built
9
Days on Site
T3499566
MLS
$505,954
Neighborhood: Sunstone At Wellen Park
3
Beds
2
Baths
1,765
Sq.Ft.
2024
Year Built
9
Days on Site
T3505069
MLS
$565,990
Neighborhood: Wysteria Wellen Park Village F-4 Replat
3
Beds
2
Baths
1,682
Sq.Ft.
2024
Year Built
9
Days on Site
T3505076
MLS
$513,907
Neighborhood: Brightmore At Wellen Park
3
Beds
2
Baths
1,754
Sq.Ft.
2023
Year Built
17
Days on Site
T3503169
MLS
$409,563
Neighborhood: Renaissance At Wellen Park
2
Beds
2
Baths
1,507
Sq.Ft.
2024
Year Built
24
Days on Site
T3501288
MLS
$399,910
Neighborhood: Sunstone At Wellen Park
2
Beds
2
Baths
1,501
Sq.Ft.
2023
Year Built
32
Days on Site
T3499172
MLS
$325,000
Neighborhood: Wellen Park Golf & Country Club
2
Beds
2
Baths
1,120
Sq.Ft.
2023
Year Built
36
Days on Site
N6130569
MLS
$586,997
Neighborhood: Wellen Park Golf & Country Club
2
Beds
2F11/2
Baths
1,850
Sq.Ft.
2023
Year Built
37
Days on Site
A4589618
MLS
$506,899
Neighborhood: Sunstone At Wellen Park
3
Beds
2
Baths
1,787
Sq.Ft.
2024
Year Built
43
Days on Site
T3496696
MLS

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